Published: Saturday, Dec. 13, 2025
Meta description: Nebius Group (NBIS) fell ~7% on Dec. 12 and traded near flat after hours. Here’s the news, analyst targets, risks, and key levels before markets reopen.
Nebius Group NV (NASDAQ: NBIS ) ended Friday, December 12, 2025 , with a sharp selloff that mirrored a broader unwind in AI-linked stocks. Shares closed down nearly 7% and then traded only modestly in after-hours, as investors digested a fresh wave of “AI bubble” anxiety sparked by earnings-related headlines from larger tech bellwethers.
If you’re tracking NBIS into the weekend and positioning for the next trading session, here’s a detailed breakdown of after-hours action , what drove the move , the latest Dec. 12 news and analysis , and a practical checklist of what to know before markets reopen .
Important calendar note:US markets areclosed on Saturday, Dec. 13, 2025. The next regular session isMonday, Dec. 15, 2025(with pre-market trading typically resuming early Monday).
NBIS after the bell (Dec. 12, 2025): the numbers investors are watching
NBIS saw a wide trading range on Friday and finished near the low end of the day.
- Close (Dec. 12):$87.69 , down 6.99%
- Day range: roughly $86.20 – $95.65
- Volume: about 14.6 million shares
- After-hours (late session): around $87.38 near the end of extended trading, down about 0.35% from the cash close (thin-liquidity conditions typical of after-hours). [1]
Takeaway: The big move happened during regular hours . After the bell, trading was relatively muted—suggesting there wasn’t a major new company-specific headline hitting tape late Friday.
Why Nebius stock dropped Friday: AI trade jitters and rate fears hit “high-beta” infrastructure names
The simplest explanation for Friday’s NBIS slide is that Nebius got caught in the crossfire of a renewed market-wide de-risking move in AI-exposed equities.
On Dec. 12 , Wall Street sold off as investors reacted to:
- Broadcom’s margin commentary (raising questions about profitability even amid strong AI demand),
- ongoing anxiety tied to Oracle’s AI spending and the timeline for returns , and
- rising Treasury yields , which tend to pressure high-growth, high-valuation stocks.
At the close, Reuters reported the S&P 500 fell 1.07% and the Nasdaq dropped 1.69% , with the tech sector taking the brunt of the selling. [2]
A separate Reuters analysis also emphasized that investors were becoming more selective—less willing to reward “spend at any cost” AI narratives without clearer profitability, even while many still believe the long-term AI trend remains intact. [3]
Why that matters for NBIS: Nebius is often grouped with the market’s “AI infrastructure” cohort—stocks that can move hard when sentiment swings because their valuations depend heavily on future growth expectations (and the cost of capital).
The Dec. 12 narrative in one line: “AI is real, but investors want proof the spending pays off”
Friday’s tape had a clear theme: the market wasn’t rejecting AI demand—it was repricing the profitability path and capital intensity behind AI infrastructure.
Reuters described a rotation out of tech/AI exposure as “AI bubble” concerns and inflation/rates worries returned to center stage. [4]
The Associated Press similarly framed the move as a pullback from record highs driven by declines in AI-linked technology stocks. [5]
For Nebius shareholders, that framing matters because the company is still widely viewed as a capacity-building story: the stock tends to trade not just on quarterly numbers, but on whether investors believe the buildout + financing equation works.
What analysts and market commentary said on Dec. 12, 2025
A key part of your “before the next open” prep is separating price action from street expectations .
1) MarketBeat: consensus still bullish, but volatility is the price of admission
In a Dec. 12 write-up, MarketBeat noted NBIS was down about 7% intraday and summarized Street positioning:
- MarketBeat’s consensus rating: “Buy”
- MarketBeat consensus price target: about $144.71
- Reported volatility: beta ~3.83
- Moving averages: 50-day ~ $107.53 , 200-day ~ $79.05
- Market cap cited around $22.08B and a negative trailing P/E (reflecting losses). [6]
What to do with this: Even bullish coverage is effectively admitting NBIS trades like a momentum stock—big upside targets paired with big drawdowns.
2) TipRanks: “high P/E, high expectations” framing
A TipRanks piece published Dec. 12 grouped NBIS with other high P/E names positioned for upside and highlighted:
- Nebius P/E cited at ~102x (and “well above sector average”)
- TipRanks “average price target” shown around $164.20 , implying substantial upside from then-current levels
- The stock described as up sharply year-to-date. [7]
Important context: Metrics like P/E can vary by methodology (and fast-moving stocks make “current price” references stale quickly). Still, the common thread is consistent: the market is pricing Nebius as a premium AI infrastructure platform , not a traditional data-center operator.
3) Long-form bulls were still buying the story (even into volatility)
Several Dec. 12 comments leaned bullish on the long-term thesis:
- A Seeking Alpha analysis published Friday called Nebius a strong long-term buy , emphasizing partnerships and growth potential. [8]
- A Motley Fool piece syndicated via Finviz on Dec. 12 listed Nebius among “breakout growth stocks” for long-term holders, portraying NBIS as a “full-stack” AI infrastructure player positioned to benefit from continued AI compute demand. [9]
How to read this: These aren’t short-term catalysts; they’re feeling inputs. They help explain why NBIS can snap back quickly when the market mood improves—because many holders are underwriting a multi-year buildout.
Nebius fundamentals investors keep coming back to: big contracts, big buildout, big financing questions
Even though Friday’s move was mostly macro-driven, Nebius-specific fundamentals matter because they shape how investors interpret dips.
Microsoft and Meta: the “proof of demand” pillar
Nebius’ story has been closely tied to megadeals and hyperscaler-grade demand signals.
- In its Q3 results release, Nebius announced an agreement to deliver AI infrastructure to Meta valued at about $3 billion over five years . [10]
- Reuters has detailed Nebius’ positioning as an AI infrastructure provider that emerged after the Yandex breakup, and it has discussed how Nebius leverages large contracts while prioritizing margins and building capacity to finance growth. [11]
Capacity and power: the real bottleneck
One of the most concrete “execution KPIs” in AI infrastructure is power and data center capacity.
Reuters reported Nebius plans to secure 2.5 gigawatts of contracted power by the end of 2026 across the US and Europe, reflecting customer demand. [12]
Financing and dilution: the risk investors can’t ignore
High-growth infrastructure requires capital. Nebius has been explicit about tools it may use:
- In the Q3 release, Nebius said it would put in place an at-the-market (ATM) equity program for up to 25 million Class A shares , describing it as a flexible funding source while also signaling it would remain “dilution-sensitive.” [13]
- An earnings-call highlights recap published by Investing.com (via GuruFocus) noted elevated investment needs, including commentary that Nebius increased 2025 CapEx guidance substantially and expects to use a mix of financing sources—another reminder that upside may come with dilution risk. [14]
Why this matters into Monday: In risk-off markets, investors tend to punish companies most dependent on external capital—especially when rates rise.
Options and positioning: a quiet after-hours, but meaningful Friday expirations
If you follow NBIS tactically, Friday also mattered because of weekly options dynamics.
ChartExchange data for Dec. 12 showed:
- the close at $87.69 and after-hours prints around $87.60 earlier in the extended session (with after-hours volume far smaller than the day’s total), and
- an options “max pain” estimate around $97 for that expiration. [15]
How to interpret this (carefully): Options metrics can influence short-term pinning/hedging flows, but they’re not fundamentals. The cleaner signal from after-hours is simply that NBIS didn’t reverse the day’s selloff in any dramatic way once liquidity thinned out.
What to know before the next market open (weekend checklist for Dec. 13–15)
Because Dec. 13 is a Saturday , think of this as a “weekend brief” to prepare for Monday, Dec. 15 .
1) Expect headline-driven gaps in AI infrastructure names
Reuters highlighted that AI sentiment was being reshaped by concerns about returns on AI spending and higher yields. [16]
That kind of narrative can produce gaps at the open —especially in a volatile name like NBIS.
2) Watch rates first, NBIS second
Friday’s drop wasn’t just “AI hype cooling.” Reuters also highlighted Treasury yields rising after Fed-related commentary about inflation and reluctance to ease. [17]
For NBIS, higher yields tend to compress valuation multiples.
3) Know the levels investors will talk about (even if you don’t trade technically)
Using widely reported reference points:
- Friday’s intraday low near $86 is the first psychological support area. [18]
- MarketBeat’s cited 200-day moving average near $79 is a longer-term area many investors track. [19]
- The 50-day average near $107 (MarketBeat) underscores how far NBIS has fallen from recent trend levels. [20]
4) The bull case is intact—but the market is demanding a cleaner profitability roadmap
Reuters’ Dec. 12 AI-trade analysis captured the market’s mood: optimism persists, but investors are polling spending and returns more closely. [21]
That’s crucial for Nebius given its capital-intensive growth plan and financing tools. [22]
5) Keep your catalyst calendar tight
Two “hard” catalyst categories matter most for NBIS holders:
- Macro data and rates (because they set the valuation regime), and
- company updates on capacity, contracts, and financing (because that’s the execution engine).
Reuters specifically noted investors were looking ahead to major labor/inflation data in the week ahead. [23]
Bottom line: NBIS ended Dec. 12 in risk-off territory, but the next move is likely macro-led
Nebius stock’s ~7% Friday drop looks less like an NBIS-only story and more like a symptom of a broader market repricing of AI infrastructure risk—sparked by fresh questions about margins, spending, and the timing of AI returns. [24]
For long-term investors, the bull narrative still centers on demand visibility through large deals and the race to add capacity—but the market will keep testing that thesis any time yields rise or “AI bubble” headlines resurface. [25]
References
1. stockanalysis.com, 2. www.reuters.com, 3. www.reuters.com, 4. www.reuters.com, 5. apnews.com, 6. www.marketbeat.com, 7. www.tipranks.com, 8. seekingalpha.com, 9. finviz.com, 10. www.businesswire.com, 11. www.reuters.com, 12. www.reuters.com, 13. www.businesswire.com, 14. ca.investing.com, 15. chartexchange.com, 16. www.reuters.com, 17. www.reuters.com, 18. stockanalysis.com, 19. www.marketbeat.com, 20. www.marketbeat.com, 21. www.reuters.com, 22. www.businesswire.com, 23. www.reuters.com, 24. www.reuters.com, 25. www.reuters.com
